PSU NEWS
India kept E&P investment same; ONGC invests 3.5 billion to keep up production said ONGC CMD
New Delhi: Speaking at Leadership Panel India Energy Week on “The importance of continued investment in E&P”, Chairman & CEO of ONGC Arun Singh said, “Energy security is geography dependant. India has kept E&P investment same; ONGC invests 3.5 billion to keep up production”. – at Bengaluru International Exhibition Centre.
“World is now getting balanced, as Deep Sea investments are becoming economical. Combination of factors are there. For India & China there is one Reality. Other geographies have different realities.
“Now, the investments needed are more as renewables have come in. So there is an issue of structural inefficiencies which have crept in.” Transition is a reality, but oil and gas will remain in focus in the journey.
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